Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The City has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal and state award activity of the City of White House, Tennessee (the City), under programs of the federal and state government for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the State of Tennessee Audit Manual. Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position or cash flows of the City, it is not intended to and does not present the financial position, changes in fundbalance/net position or cash flows of the City.
Title: Revolving Loan Fund Balances
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The City has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
At June 30, 2022, the City has outstanding revolving loan fund balances as follows:State of Tennessee - Project # CWA 2009-246 $ 293,816State of Tennessee - Project # CWSRF 2010-256 $ 192,632State of Tennessee - Project # CG1 2012-302 $ 2,330,932State of Tennessee - Project # CWSRF 2012-308 $ 271,940State of Tennessee - State of TN - CG2 2013-326 $ 1,164,186State of Tennessee - State of TN - CWSRF 2016-364 $ 591,024State of Tennessee - State of TN - CWSRF 2021-449 $ 7,552,533
Title: Subrecipients
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The City has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The City has not passed any federal awards through to subrecipients for the year ended June 30, 2022.
Title: State Awards
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The City has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Not included in the above is $153,270 of funds received from the State of Tennessee as an appropriation under Title 111-22, Item 10.23.